Can I retire at age 71 with 990,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$81,753$81,025$80,315$79,621$78,944$77,636
2 years$40,472$39,718$38,988$38,279$37,592$36,279
3 years$26,713$25,956$25,228$24,526$23,850$22,571
4 years$19,835$19,081$18,359$17,670$17,010$15,776
5 years$15,710$14,959$14,248$13,572$12,931$11,745
6 years$12,960$12,215$11,514$10,854$10,232$9,096
7 years$10,997$10,259$9,568$8,923$8,321$7,235
8 years$9,525$8,793$8,115$7,486$6,903$5,867
9 years$8,381$7,656$6,989$6,376$5,813$4,827
10 years$7,466$6,749$6,093$5,496$4,953$4,015
11 years$6,718$6,008$5,364$4,783$4,260$3,369
12 years$6,095$5,392$4,761$4,196$3,692$2,847
13 years$5,569$4,873$4,253$3,704$3,219$2,419
14 years$5,118$4,430$3,822$3,288$2,822$2,066
15 years$4,727$4,046$3,451$2,932$2,485$1,771
16 years$4,386$3,713$3,128$2,626$2,196$1,523
17 years$4,085$3,419$2,847$2,359$1,947$1,313
18 years$3,818$3,159$2,599$2,126$1,731$1,135
19 years$3,579$2,928$2,379$1,921$1,543$983
20 years$3,365$2,721$2,183$1,740$1,378$853
21 years$3,171$2,534$2,008$1,579$1,233$741
22 years$2,995$2,366$1,851$1,436$1,106$645
23 years$2,834$2,213$1,709$1,308$992$561
24 years$2,687$2,073$1,581$1,193$892$489
25 years$2,552$1,946$1,464$1,089$803$427
26 years$2,428$1,829$1,358$996$723$373
27 years$2,313$1,721$1,261$912$652$326
28 years$2,206$1,622$1,172$835$588$284
29 years$2,107$1,530$1,091$766$531$249
30 years$2,015$1,445$1,016$703$480$218
31 years$1,929$1,366$947$646$434$190
32 years$1,848$1,292$884$593$392$167
33 years$1,773$1,224$825$546$355$146
34 years$1,702$1,160$771$502$322$128
35 years$1,635$1,100$721$462$291$112
36 years$1,572$1,044$674$426$264$98
37 years$1,513$992$631$392$239$86
38 years$1,457$942$591$361$217$75
39 years$1,404$896$554$333$197$66
40 years$1,353$853$519$307$178$58
41 years$1,306$812$487$284$162$51
42 years$1,260$773$456$262$147$44
43 years$1,217$737$428$242$133$39
44 years$1,176$702$402$223$121$34
45 years$1,137$669$378$206$110$30
46 years$1,100$639$355$190$100$26
47 years$1,064$609$333$176$91$23
48 years$1,030$582$313$162$82$20
49 years$998$556$294$150$75$18
50 years$967$531$277$139$68$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $990,000, adding $6,747 every year, while hoping to spend $57,734 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 37/38/25 Blend
70$990,000$990,000$990,000$990,000
71$1,097,940$1,045,470$1,030,125$1,130,127
72$1,148,501$1,035,269$1,003,205$1,144,148
73$1,202,284$1,022,634$973,449$1,153,478
74$1,259,558$1,007,383$940,700$1,162,420
75$1,320,615$989,327$904,795$1,170,974
76$1,385,775$968,262$865,564$1,179,146
77$1,455,392$943,974$822,828$1,186,950
78$1,529,850$916,237$776,400$1,194,403
79$1,609,571$884,809$726,087$1,201,533
80$1,695,021$849,438$671,684$1,208,373
81$1,786,706$809,853$612,978$1,214,970
82$1,885,185$765,771$549,748$1,221,381
83$1,991,070$716,891$481,761$1,227,674
84$2,105,034$662,893$408,775$1,233,936
85$2,227,815$603,442$330,536$1,240,267
86$2,360,223$538,182$246,780$1,246,788
87$2,503,150$466,737$157,232$1,253,642
88$2,657,575$388,710$61,602$1,260,995
89$2,824,572$303,682$0$1,269,041
90$3,005,325$211,209$0$1,288,795
91$3,201,133$110,823$0$1,327,963
92$3,413,425$2,030$0$1,370,481
93$3,643,773$0$0$1,416,780
94$3,893,905$0$0$1,515,722
95$4,165,723$0$0$1,624,285
96$4,461,316$0$0$1,742,472
97$4,782,988$0$0$1,871,218
98$5,133,268$0$0$2,011,553
99$5,514,942$0$0$2,164,610
100$5,931,077$0$0$2,331,637